NBC, ABC try to start new season right

CBS.MarketWatch.com

Janeen Bjork doesn't see what all the fuss is about concerning the new TV season.

While network executives -- particularly at General Electric's
GE, +1.35%
NBC unit -- have been thrilled with the early returns from new programs and some returning favorites, Bjork, senior vice president and director of programming for the advertising representation firm Seltel, says it's way too early to draw any conclusions.

"Until it gets cold in most parts of the country, we don't get any kind of sampling," she said. "So we're talking about the infirm, the elderly, the people who have no life outside of television, who are watching (these) shows. And trying to make predictions about what will happen six months from now...I won't do it."

But the temptation to make evaluations is surely great, since there's a perception that network ratings are in an unstoppable downward spiral.

NBC has been crowing about the start of the fall season, which has been boosted by new dramas like "West Wing," starring Martin Sheen (above).

Season-to-date, NBC is first in total viewers, with a 9.9 rating and a 16 share of the U.S. audience. CBS, the defending households winner, is second at 9.7 and 16; ABC's 8.3 and 14 is good for third; Fox is fourth with a 5.3 and a 9; and the WB is fifth at 2.9 and 5.

There are an estimated 99.4 million television households in the USA. A single ratings point represents 1 percent, or 994,000 households. Share is the percentage of television sets in use tuned to a specific program.

Media analyst Marc Berman says NBC is benefiting from what he calls "The Year of the Drama." "The good news for NBC right now is 'West Wing' -- it's got some very good numbers right now -- (as well as) 'Law and Order: Special Victims Unit,' " Berman said. "Wing" stars Martin Sheen as the president of the U.S., and includes an all-star cast as his advisors. The Wednesday night show won its time slot last week in households with a 12.1 rating and a 19 share, and finished as the No. 13 show in all of prime time. "Order," a spin-off from the long-running NBC cops-and-lawyers show, garnered a 10.0 and a 15 share last week, good for 25th on the primetime list. "Third Watch," from the producers of "E.R.," centers around a group of paramedics, police and firefighters. It held its own opposite CBS's perennial winner "Touched By an Angel" last Sunday night, finishing the week as the No. 4 show in the nation. And "Freaks and Geeks," the network's answer to the WB's teen melodramas, obtained for NBC "more sampling on Saturday than they've gotten in years," Berman said.

"Once and Again," starring Sela Ward (above), has been a ratings success for Walt Disney's ABC early in its first season.

Some of the analysts who follow Walt Disney
DIS, +1.28%
are convinced that ABC is turning things around after a decline of several seasons, bolstered by improving ratings for "Monday Night Football." Berman isn't so sure. "I think a sore spot for them -- a very sore spot -- is 'It's Like, You Know.' They've got to do something with (Tuesday at) 8:30. It's not getting any numbers." The sitcom, featuring "Dirty Dancing" co-star Jennifer Grey, was last week's No. 52 show, drawing a 7.4 and a 12. And "Oh Grow Up," a new program, "hasn't done anything for them," Berman added.

Berman admits, though, that "Dharma and Greg" has done well against NBC's "Will and Grace," a fairly similar sitcom, and that "Once and Again," the new Sela Ward drama from the creators of "Thirtysomething," has been a bright spot for ABC.

NBC Internet will begin trading of its online business as a separate company in early November, a report said Friday. Bloomberg reported that Chris Kitze, the chief executive of the NBC Internet venture, made the announcement at the 1999 Global Convergence Summit in New York. NBC representatives didn't return a call seeking comment. See related story.

Cable operator Adelphia Communications on Friday said its follow-on stock offering of 6 million Class A shares has been priced at $57 a share. The offering is expected to close Oct. 6. Adelphia didn't say what the proceeds would be used for. In addition to that deal, members of the family of Adelphia Chairman John Rigas have agreed Wednesday to buy 2.5 million shares of Class B stock at $55 a share, plus interest. That purchase is expected to close about 9 months after the Class A offering. See related story.

Radio and television station owner Emmis Communications said Friday it's filed for two secondary equity offerings expected to raise $400 million. Emmis said it'll offer4.3 million shares of Class A shares while 300,000 shares are sold by its controlling stockholder.The underwriters have the option to purchase up to 690,000 additional shares of Class A Common Stock from EMMIS to cover any over-allotments. The company expects to get about $272 million from the offering. Also, Emmis will offer 2.5 million shares of its Series A Cumulative Convertible Preferred Stock. In this case, the underwriters are eligible to buy up to 375,000 additional shares. See related story.

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